IndiGo cashes in on Jet Airways crisis to increase Q4 profit to Rs 590 crore : Bulletin: Business Today
Business Today

IndiGo cashes in on Jet Airways crisis to increase Q4 profit to Rs 590 crore

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May 28, 2019

GDP growth in Q4 likely to moderate to 5.9-6.1%: SBI report

The country's economic growth in the fourth quarter ended March 2019 is expected to moderate to 5.9-6.1 per cent, which could pull down growth rate for the entire fiscal 2018-19 to below 7 per cent, according to a report by SBI. The slip in GDP growth may force the Reserve Bank of India to move with a deeper 0.50 per cent cut in rates at its next review to propel the sluggish economy

IndiGo cashes in on Jet Airways crisis to increase Q4 profit to Rs 590 crore

In a sign that crisis at Jet Airways is benefitting competing airlines, IndiGo on Monday reported a profit of Rs 589.6 crore for the January-March quarter in FY19, compared to Rs 117.6 crore in the corresponding period of FY18. This is nearly a five-fold jump in profits mostly due to stabilising crude prices and IndiGo increasing its market share

Maruti Suzuki shuts production for a day at Gurgaon, Manesar plants

The country's largest car maker Maruti Suzuki India (MSI) Monday shut production for a day at its plants near here to manage rising inventory levels, sources said. The company's installed manufacturing capacity at its two plants in Gurgaon and Manesar in Haryana stands at around 15.5 lakh units per annum.

Reliance Brands signs up All Saints, Kurt Geiger, EA7 to ramp up its portfolio

In a bid to strengthen its portfolio, Reliance Brands has signed up Armani's sportswear brand EA7 as well as British high-street labels All Saints and Kurt Geiger. This will give a boost to the company's portfolio of high-end brands before the launch of its e-commerce initiative.

According to reports, Reliance Brands is also scouting for space for all the three brands, as mentioned by people in the know.

Aerospace major HAL records all-time high turnover of Rs 19,705 cr

State-run aerospace major Hindustan Aeronautics Limited (HAL) has posted an all-time high turnover of Rs 19,705 crore, registering a growth of 7.8 per cent in 2018-19, the company said in a statement Monday. The news augurs well for the company as the aerospace major was earlier this year forced to borrow Rs 1,000 crore to pay salaries to its employees for the first time in years.

Reliance to sell BIG FM to Music Broadcast for 'enterprise value' of Rs 1,050 cr

Anil Ambani's Reliance Group will sell its stake in Reliance Broadcast Network Ltd (RBNL), which operates Big FM radio channels, to Jagran Prakashan-owned Music Broadcast Ltd (MBL) for an enterprise value of Rs 1,050 crore. The board of MBL, which operates under the brand name of Radio City, on Monday approved the acquisition of RBNL, a Reliance Group company.

RBI draft liquidity norms may put pressure on NBFCs margins: Analysts

The draft liquidity norms for the non-banking financial companies (NBFCs) announced by the Reserve Bank will put pressure on their margins and returns over the medium term, analysts say. The proposed norms may also result into consolidation in the NBFC sector, they said.

Lok Sabha Elections 2019: Rahul Gandhi stays firm on stepping down, say sources

Following their dismal performance in Lok Sabha Elections 2019, uncertainty looms over the Congress party as chief Rahul Gandhi remains insistent on stepping aside. According to a report in India Today, Congress leaders had dissuaded the politician from stepping down but he has not changed his mind so far.


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